Sagespring Wealth Partners LLC Increases Stock Position in CocaCola Company (The) $KO

Key Points

• Sagespring Wealth Partners LLC increased its stake in CocaCola by 60.7%, bringing their total holdings to 71,671 shares valued at $5,071,000.
• Insider Nikolaos Koumettis sold 37,396 shares of CocaCola for approximately $2.58 million, reducing their ownership by 15.15%.
• CocaCola's stock currently has a market cap of $287.29 billion and an average price target from analysts set at $76.93, with a majority rating of "Buy."

Sagespring Wealth Partners LLC increased its position in shares of CocaCola Company (The) (NYSE:KO - Free Report) by 60.7% during the second quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 71,671 shares of the company's stock after buying an additional 27,065 shares during the period. Sagespring Wealth Partners LLC's holdings in CocaCola were worth $5,071,000 as of its most recent filing with the SEC.

A number of other hedge funds have also recently added to or reduced their stakes in KO. Vanguard Group Inc. lifted its holdings in CocaCola by 0.3% during the first quarter. Vanguard Group Inc. now owns 361,200,808 shares of the company's stock valued at $25,869,202,000 after purchasing an additional 1,114,422 shares in the last quarter. Wellington Management Group LLP lifted its holdings in CocaCola by 52.7% during the first quarter. Wellington Management Group LLP now owns 47,447,430 shares of the company's stock valued at $3,398,185,000 after purchasing an additional 16,383,870 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its holdings in CocaCola by 6.2% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 30,889,415 shares of the company's stock valued at $2,212,300,000 after purchasing an additional 1,794,561 shares in the last quarter. Amundi lifted its holdings in CocaCola by 16.0% during the first quarter. Amundi now owns 21,236,315 shares of the company's stock valued at $1,554,074,000 after purchasing an additional 2,922,619 shares in the last quarter. Finally, Nuveen LLC purchased a new position in CocaCola during the first quarter valued at $1,508,657,000. 70.26% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at CocaCola

In related news, insider Nikolaos Koumettis sold 37,396 shares of CocaCola stock in a transaction that occurred on Tuesday, August 5th. The shares were sold at an average price of $69.10, for a total value of $2,584,063.60. Following the completion of the transaction, the insider owned 209,513 shares in the company, valued at $14,477,348.30. The trade was a 15.15% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.90% of the stock is owned by corporate insiders.

CocaCola Price Performance

Shares of KO opened at $66.76 on Tuesday. The firm has a 50-day simple moving average of $68.01 and a two-hundred day simple moving average of $69.82. The company has a debt-to-equity ratio of 1.49, a current ratio of 1.21 and a quick ratio of 0.98. CocaCola Company has a 1-year low of $60.62 and a 1-year high of $74.38. The stock has a market cap of $287.29 billion, a PE ratio of 23.67, a P/E/G ratio of 3.49 and a beta of 0.43.

CocaCola (NYSE:KO - Get Free Report) last announced its quarterly earnings data on Thursday, March 27th. The company reported $0.55 earnings per share for the quarter. CocaCola had a net margin of 25.89% and a return on equity of 44.91%. The firm had revenue of $11.40 billion during the quarter. As a group, analysts forecast that CocaCola Company will post 2.96 EPS for the current year.

CocaCola Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Wednesday, October 1st. Investors of record on Monday, September 15th were paid a $0.51 dividend. The ex-dividend date was Monday, September 15th. This represents a $2.04 dividend on an annualized basis and a yield of 3.1%. CocaCola's payout ratio is currently 72.34%.

Wall Street Analysts Forecast Growth

KO has been the topic of several recent analyst reports. JPMorgan Chase & Co. increased their price objective on shares of CocaCola from $77.00 to $79.00 and gave the company an "overweight" rating in a report on Wednesday, July 23rd. UBS Group decreased their price objective on shares of CocaCola from $84.00 to $80.00 and set a "buy" rating on the stock in a report on Thursday, September 11th. BNP Paribas reiterated an "outperform" rating and issued a $83.00 target price on shares of CocaCola in a research report on Monday, July 21st. Wells Fargo & Company reduced their target price on shares of CocaCola from $78.00 to $75.00 and set an "overweight" rating for the company in a research report on Thursday, September 25th. Finally, Weiss Ratings restated a "buy (b-)" rating on shares of CocaCola in a research report on Wednesday, October 8th. One analyst has rated the stock with a Strong Buy rating and fifteen have assigned a Buy rating to the company's stock. According to MarketBeat, CocaCola presently has an average rating of "Buy" and an average price target of $76.93.

About CocaCola

The Coca-Cola Company, a beverage company, manufactures, markets, and sells various nonalcoholic beverages worldwide. The company provides sparkling soft drinks, sparkling flavors; water, sports, coffee, and tea; juice, value-added dairy, and plant-based beverages; and other beverages. It also offers beverage concentrates and syrups, as well as fountain syrups to fountain retailers, such as restaurants and convenience stores.

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